PledgeMusic today announced that it had finalized deal to acquire Set.fm. Set.fm Founder and CEO Matt Peterson will add the title of PledgeMusic GM, Austin.

Set.fm allows artists to capture, promote and sell recordings of their live performances. Launched by Peterson in 2012, the free service creates new revenue streams for performing artists and is a natural fit in PledgeMusic’s expanding direct-to-fan ecosystem. Set.fm joins the recently acquired NoiseTrade in the PledgeMusic family of companies, which has a growing base of 3 million active music fans and 50,00 musicians.

“Set.fm exists to change the way that artists and fans interact, a philosophy at the very core of what makes PledgeMusic so special,” added Peterson. “Combining our expertise in creating high-value live content with PledgeMusic’s best-of-breed platform for directly engaging fans will create a richer experience for all involved.“